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Bengaluru's Avigna plans to raise Rs 1,000 crore through an AIF for expansion and debt repayment. The AIF, including a greenshoe option, will focus on stabilized assets. Avigna aims to develop 10 million sq ft of warehousing assets in southern India, targeting robust industry growth amidst economic recovery post-Covid-19.
In an interview, Avigna group Executive Director and CEO Abhijit Verma highlighted that the company recently completed the development as well as leasing of first phase of Hosur Park in Tamil Nadu comprising one million sq ft area.
“It gives me immense pride to announce our first milestone in handing over the facility to the first set of blue-chip brands. This is a great achievement for Avigna Group and a step ahead in our vision to bring a holistic approach to the Indian warehousing space by integrating state of the art technology, logistics and supply chain” said Abhijit Verma, CEO.
It had handed over its facility to blue-chip brands such as Whirlpool, Stellar Value Chain, and Wakefit.